The Oct. 31 page 1 story "NASDAQ innocent but no angel" consistently referred to Nasdaq as the "over-the-counter market."
Nasdaq is the world's second-largest stock market in terms of dollar volume and is fully regulated by the SEC in exactly the same way as other markets, including the New York Stock Exchange and the American Stock Exchange.
It is not an over-the-counter market.
Over-the-counter markets are recognized as not fully regulated. Our concern is applying this term to Nasdaq may mislead investors and analysts.
The confusion may have arisen because the Nasdaq Stock Market grew out of an over-the counter system.
The acronym NASDAQ then stood for the National Association of Securities Automated Quotation System.
However, in 1971, Nasdaq became a fully regulated market and the acronym was replaced by the name Nasdaq, which is now used in upper-and lower-case characters.
It is vital that your readers realize that Nasdaq is a secure and fully regulated market.
We would appreciate you assistance in getting the message across.
Lowe Bell Financial Ltd.
In reference to your Nov. 14 page 1 "At Deadline" piece titled "Pension breaks to cost U.S.," I find the words used to describe tax deductions totally amazing.
Apparently, you feel the government owns all of the money in the country and that it "loses" money through tax breaks for contributions to pension plans.
Excuse me for not being under the impression that private saving of one's own money for retirement and investing the funds in the economy is a "giveaway" by the government.
Yes, let's have the government keep all of our money and run the country.
After all, this works best, is fair, and has been demonstrated over and over again - for example, the Soviet Union - to be best for the people.
I assume you were being facetious in printing such an attitude as the normal way to describe tax deductions.
San Diego, Calif.
Is there some special reason why companies prefer to have their advertisements glued onto a page rather than placing an ad?
It's a real nuisance.
Segal vs. Segal
When The Segal Co. sent its submission to Pensions & Investments for the 1994 investment management consultant directory, published Nov. 14, we attempted to distinguish between the services provided by The Segal Co., one of the nations's largest employee benefits and actuarial consulting firms, and Segal Advisors Inc., a separate investment management consulting corporation.
But the listing as it appeared confused the two entities. We ask, therefore, that you assist us in clarifying for your readers the identity of these two companies.
Segal Advisors Inc. provides investment management consulting services to sponsors of defined benefit and defined contribution plans. Services include investment policy development, asset allocation studies, manager searches and performance measurement.
Among the full range of employee benefit consulting services The Segal Co. provides are services for defined contribution plans through our mutual fund alliance, DC-Connect.
Mary L. Feldman
Vice President, Public Affairs
The Segal Co.